Establishes a small business tax credit for the employment of disabled persons.

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S4107-2011 Actions

• Jan 9, 2012: PRINT NUMBER 4107A
• Jan 9, 2012: AMEND AND RECOMMIT TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
• Jan 4, 2012: REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
• May 24, 2011: REPORTED AND COMMITTED TO FINANCE
• Mar 17, 2011: REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

S4107-2011 Meetings

Investigations and Government Operations: May 24, 2011

S4107-2011 Votes

S4107-2011 Memo

BILL NUMBER:S4107

TITLE OF BILL:

An act
to amend the tax law, in relation to establishing a small business tax
credit for the employment of disabled persons

PURPOSE:

To stimulate employment of disabled persons and retain their services.

SUMMARY OF PROVISIONS:

Section 1: Amendment to section 210, subdivision 43 of the tax law,
for the providence of a business tax credit for the employer in
regards to the employment of disabled persons for the duration of
twelve months or more for a minimum of thirty-five hours per a week.
Tax credit range will range between five thousand to twenty-five
thousand dollars.

Section 2: The adoption of a new clause (xxxii) in section 606 of the
tax law, specifying preceded amendment.

Section 3: Amendment to section 606 of the tax law, detailing the
components of the business tax credit for the employment of disabled
persons in a company of one hundred employees or less.

JUSTIFICATION:

With the struggles one experiences in today's economy, it is a
continuous uphill battle to seek and retain viable employment.
Disabled persons, by far, face unprecedented challenges: a 2004
Harris poll cited disabled persons are nearly as twice as likely as
people without disabilities to have an annual household income of
$15,000 or less. And, according to a 2009 Bureau of Labor Statistics
study, the unemployment rate of persons with a disability was fifteen
percent,
compared to nine percent for those without a disability. Further, a
2006 disability status report published by Cornell University
determined twenty-two percent of persons with disabilities are
employed full-time, compared to fifty-seven percent of persons
without disabilities. There are also income discrepancies: a median
salary of $65,000 for persons without disabilities, compared to a
$36,000 median salary for persons with disabilities.

To stimulate employment for their services, a tax credit is being
proposed to small business owners that retain disabled persons within
their company for twelve months or more at a minimum of thirty-five
hours of employment per a week. Their services will contribute to the
economic growth of New York state, create greater awareness of their
overlooked skills, and establish fairness with confidence.

LEGISLATIVE HISTORY:

New bill.


FISCAL IMPLICATIONS:

To be determined.

EFFECTIVE DATE:

Shall take effect immediately and apply to taxable years beginning on
or after January 1, 2012.

S4107-2011 Text

                      S T A T E   O F   N E W   Y O R K
  ________________________________________________________________________

                                    4107

                         2011-2012 Regular Sessions

                              I N  SENATE

                               March 17, 2011
                                 ___________

  Introduced  by  Sen. ADDABBO -- read twice and ordered printed, and when
    printed to be committed to the Committee on Investigations and Govern-
    ment Operations

  AN ACT to amend the tax law, in relation to establishing a  small  busi-
    ness tax credit for the employment of disabled persons

    THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
  BLY, DO ENACT AS FOLLOWS:


    Section 1. Section 210 of the tax law  is  amended  by  adding  a  new
  subdivision 43 to read as follows:

    43.  SMALL  BUSINESS  TAX  CREDIT;  DISABLED  PERSONS.  (A) GENERAL. A
  TAXPAYER WHO HAS ONE HUNDRED EMPLOYEES OR LESS, SHALL BE ALLOWED A CRED-
  IT, TO BE COMPUTED AS PROVIDED IN  THIS  SUBDIVISION,  AGAINST  THE  TAX
  IMPOSED  BY THIS ARTICLE FOR EACH DISABLED PERSON HIRED DURING A TAXABLE
  YEAR, PROVIDED THAT SUCH DISABLED PERSON  IS  EMPLOYED  FOR  THIRTY-FIVE
  HOURS  OR  MORE  PER WEEK AND REMAINS IN THE EMPLOY OF SUCH TAXPAYER FOR
  TWELVE MONTHS OR MORE.
    (B) AMOUNT OF CREDIT. A CREDIT AUTHORIZED BY THIS SECTION SHALL  EQUAL
  FIVE  THOUSAND  DOLLARS  PER  HIRED DISABLED PERSON BUT SHALL NOT EXCEED
  TWENTY-FIVE THOUSAND DOLLARS.
    (C) CARRYOVERS. THE CREDIT  ALLOWED  UNDER  THIS  SUBDIVISION  MAY  BE
  CLAIMED  AND  IF NOT FULLY USED IN THE INITIAL YEAR FOR WHICH THE CREDIT
  IS CLAIMED MAY BE CARRIED OVER, IN ORDER, TO EACH OF THE FIVE SUCCEEDING
  TAXABLE YEARS. THE CREDIT AUTHORIZED BY THIS SUBDIVISION MAY NOT BE USED
  TO REDUCE THE TAX LIABILITY OF THE CREDIT CLAIMANT BELOW ZERO.
    (D) DEFINITIONS. AS USED  IN  THIS  SUBDIVISION,  THE  TERM  "DISABLED
  PERSON"  SHALL  MEAN  A  PERSON WHO SUFFERS FROM ANY PHYSICAL, MENTAL OR
  MEDICAL IMPAIRMENT RESULTING FROM ANATOMICAL, PHYSIOLOGICAL, GENETIC  OR
  NEUROLOGICAL  CONDITIONS  WHICH PREVENTS THE EXERCISE OF A NORMAL BODILY
  FUNCTION OR IS DEMONSTRABLE BY MEDICALLY ACCEPTED CLINICAL OR LABORATORY
  DIAGNOSTIC TECHNIQUES.

   EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                        [ ] is old law to be omitted.
                                                             LBD10081-02-1

 S. 4107                             2

    S 2. Subparagraph (B) of paragraph 1 of subsection (i) of section  606
  of  the  tax  law  is  amended by adding a new clause (xxxii) to read as
  follows:

  (XXXII) SMALL BUSINESS TAX CREDIT;   COSTS UNDER SUBDIVISION
  DISABLED PERSONS                     FORTY-THREE OF SECTION
  SUBSECTION (SS)                      TWO HUNDRED TEN
    S 3.  Section 606 of the tax law is amended by adding a new subsection
  (ss) to read as follows:

    (SS)  SMALL  BUSINESS  TAX  CREDIT;  DISABLED  PERSONS. (1) GENERAL. A
  TAXPAYER WHO HAS ONE HUNDRED EMPLOYEES OR LESS, SHALL BE ALLOWED A CRED-
  IT, TO BE COMPUTED AS PROVIDED  IN  THIS  SUBSECTION,  AGAINST  THE  TAX
  IMPOSED  BY THIS ARTICLE FOR EACH DISABLED PERSON HIRED DURING A TAXABLE
  YEAR, PROVIDED THAT SUCH DISABLED PERSON  IS  EMPLOYED  FOR  THIRTY-FIVE
  HOURS  OR  MORE  PER WEEK AND REMAINS IN THE EMPLOY OF SUCH TAXPAYER FOR
  TWELVE MONTHS OR MORE.
    (2) AMOUNT OF CREDIT. A CREDIT AUTHORIZED BY THIS SECTION SHALL  EQUAL
  FIVE  THOUSAND  DOLLARS  PER  HIRED DISABLED PERSON BUT SHALL NOT EXCEED
  TWENTY-FIVE THOUSAND DOLLARS.
    (3) CARRYOVERS. THE  CREDIT  ALLOWED  UNDER  THIS  SUBSECTION  MAY  BE
  CLAIMED  AND  IF NOT FULLY USED IN THE INITIAL YEAR FOR WHICH THE CREDIT
  IS CLAIMED MAY BE CARRIED OVER, IN ORDER, TO EACH OF THE FIVE SUCCEEDING
  TAXABLE YEARS. THE CREDIT AUTHORIZED BY THIS SUBSECTION MAY NOT BE  USED
  TO REDUCE THE TAX LIABILITY OF THE CREDIT CLAIMANT BELOW ZERO.
    (4)  DEFINITIONS.  AS  USED  IN  THIS  SUBSECTION,  THE TERM "DISABLED
  PERSON" SHALL MEAN A PERSON WHO SUFFERS FROM  ANY  PHYSICAL,  MENTAL  OR
  MEDICAL  IMPAIRMENT RESULTING FROM ANATOMICAL, PHYSIOLOGICAL, GENETIC OR
  NEUROLOGICAL CONDITIONS WHICH PREVENTS THE EXERCISE OF A  NORMAL  BODILY
  FUNCTION OR IS DEMONSTRABLE BY MEDICALLY ACCEPTED CLINICAL OR LABORATORY
  DIAGNOSTIC TECHNIQUES.
    S 4. This act shall take effect immediately and shall apply to taxable
  years beginning on or after January 1, 2012.